GREECE
Macro Political
• In an interview with Bloomberg, the Minister of Finance and Economy, Kyriakos Pierrakakis, reiterated that Greece plans to repay loans from its first bailout program ten years ahead of schedule, a move aimed at easing the country’s future debt burden. He added that fiscal prudence is not a policy choice; “it’s a regime.”
Mr. Pierrakakis also stated that the EU should move forward with allowing greater budget flexibility to accommodate increased defense spending across the region.
Source: Bloomberg
• Greece and Italy announced an agreement on a nearly EUR 2bn project that will triple the capacity of the undersea power connection between the two countries, strengthening their energy-trading transmission ties.
Italian Prime Minister Giorgia Meloni stated that Terna SpA and the Greek power grid operator IPTO SA (ADMIE) signed an agreement to add up to 1,000 megawatts of additional transmission capacity, up from the current 500 megawatts
Source: Bloomberg
